Jeonbuk State is providing full-scale tax relief to local firms struggling with Middle East-related crises, including export hurdles, increased logistics costs, and payment delays. Support measures include extending tax payment deadlines, postponing tax investigations, and allowing for deferred tax collection.

 

On the 13th, Jeonbuk State held a video conference for the 'Provincial-Municipal Emergency Economic Response TF on the Middle East Situation,' chaired by Governor Kim Kwan-young, to review these support measures. The meeting was attended by provincial officials, including the Director of the Corporate Attraction Support Office and heads of the four TF departments, as well as vice-heads of local city and county governments. Participants shared their progress to date, discussed trends regarding the central government's supplementary budget, and deliberated on future response strategies.

 

During the meeting, officials also discussed the 'High Oil Price Relief Grant' to support low-income families struggling with high oil prices and inflation. The provincial government plans to provide payments in phases throughout April and May: 600,000 KRW for basic livelihood security recipients, 500,000 KRW for near-poverty and single-parent households, and 150,000 to 250,000 KRW for households in the bottom 70% income bracket. Furthermore, the province reviewed sector-specific contingency plans to prepare for a prolonged Middle East crisis—focusing on stabilizing oil prices, managing consumer prices, and supporting export companies and small business owners—and explored future response strategies.

 

Governor Kim Kwan-young stated, "To maintain stable business operations, we will swiftly process additional applications for tax payment extensions from affected companies. We will also continuously promote these tax relief programs to local corporations and tax agents, and work closely with city and county governments to ensure that no business falls through the cracks of our support system."